More than a decade has passed since the introduction of comprehensive macroeconomic stabilization packages and trade, fiscal, and financial market reforms in Latin America and the Caribbean. However, growth prospects remain disappointing; labor markets show lackluster performance, with low participation rates, high and persistent informality, and, in some cases, open unemployment. Creating viable and lasting employment is vital to reduce poverty and spread prosperity in the region. The failure to create more and more productive and rewarding jobs carries substantial political, social, and economic costs. 'Job Creation in Latin America and the Caribbean: Recent Trends and Policy Challenges' provides a thorough examination of the labor market trends in the region in recent decades and assesses the role that labor demand and labor supply factors have played in shaping these outcomes.

Law and Employment analyzes the effects of regulation and deregulation on Latin American labor markets and presents empirically grounded studies of the costs of regulation. Numerous labor regulations that were introduced or reformed in Latin America in the past thirty years have had important economic consequences. Nobel Prize-winning economist James J. Heckman and Carmen Pagés document the behavior of firms attempting to stay in business and be competitive while facing the high costs of complying with these labor laws. They challenge the prevailing view that labor market regulations affect only the distribution of labor incomes and have little or no impact on efficiency or the performance of labor markets. Using new micro-evidence, this volume shows that labor regulations reduce labor market turnover rates and flexibility, promote inequality, and discriminate against marginal workers. Along with in-depth studies of Colombia, Peru, Brazil, Argentina, Chile, Uruguay, Jamaica, and Trinidad, Law and Employment provides comparative analysis of Latin American economies against a range of European countries and the United States. The book breaks new ground by quantifying not only the cost of regulation in Latin America, the Caribbean, and in the OECD, but also the broader impact of this regulation.

This landmark work is the first sustained critique of Latin American neostructuralism, the prevailing narrative that has sought to replace "market fundamentalism" and humanize the "savage capitalism" imposed by neoliberal dogmatism. Fernando Leiva analyzes neostructuralism and questions its credibility as the answer to the region's economic, political, and social woes. Recent electoral victories by progressive governments in Latin America promising economic growth, social equity, and political democracy raise a number of urgent questions, including: What are the key strengths and weaknesses of the emerging paradigm? What kinds of transformations can this movement enact? Leiva addresses these issues and argues that the power relations embedded in local institutions, culture, and populations must be recognized when building alternatives to the present order. Considering the governments in countries such as Chile, Argentina, and Brazil, Leiva examines neostructuralism's impact on global politics and challenges whether this paradigm constitutes a genuine alternative to neoliberalism or is, rather, a more sophisticated form of consolidating existing systems.

A superb contribution. . . . At a time when U.S.-Latin American relations face a critical turning point, policymakers would benefit from a careful reading of this fine book. Eduardo A. Gamarra, Florida International University

The globalization of business is a relatively new process. Although its influence on work, employment, the labour process and the management process has become increasingly significant, little is known about these developments. In order to redress this imbalance, this book provides evidence of the nature and degree of significance that globalization holds for nation states, cultures, trade unions, employees and business management. Underlying the various contributions is a focus upon the varied and complex nature of internationalism in the business world.

Latin America has changed dramatically over the past few years. While the 1990s were dominated by the politically orthodoxy of the Washington Consensus and the political uniformity of centre right governments the first decade of the new century is being characterised by the emergence of a plurality of economic and political alternatives. In an overview of the history of the region over the past twenty-five years this book traces the intellectual and political origins of the Washington Consensus, assesses its impact on democracy and economic development and discusses whether the emergence of a variety of left-wing governments in the region represents a clear break with the politics and policies of the Washington Consensus. Clearly written and rigorously argued the book will be of interest to academics, students of Latin American politics and anybody interested in understanding contemporary Latin America.